This invention relates to a tool hanging rack that can be attached to a wall. Historically, many different methods and apparatuses have been developed and utilized to hang tools and other various objects from vertical walls. The simplest form of tool hanger can involve nails banged into a wall wherein a tool (or another object such as a hat or extension cord) can be hung on the nail. In U.S. Pat. No. 5,097,966, an improved hanger system is disclosed in which a number of support rods can be inserted into holes bored at different positions along an elongated base member such that when the base member is attached to a wall, the support rods extend upwardly. In U.S. Pat. No. 5,499,724, a similar tool hanging rack is disclosed wherein support rods are mounted in holes bored at right angles to an elongated base member and the base member itself is adapted to mount at an acute angle to the wall. When the base member is attached to the wall, the support rods are thus angled upward. In both inventions it is possible to locate the support rods at different positions along the elongated member, however, the location of support rods is fixed depending on the location of the bores. Further, in both inventions, the support racks are designed to operate only when the elongated base member is mounted to a wall with its axis of elongation horizontal. The present invention overcomes both problems by providing a support rack that allows for infinite positioning of the support rods along the entire axis of elongation of the base member. Further, in one embodiment, the support rack is adapted to be operable when the elongated base member is mounted to a wall either horizontally or vertically.